NEW DELHI: FMCG major Nestle India on Thursday reported a rise of 36.86% in its net profit at Rs 698.34 crore for the second quarter ending June 30, 2023. The company, which follows the January-December financial year, had posted a net profit of Rs 510.24 crore in the same period the previous year, Nestle India said in a regulatory filing.
Nestle India’s net sales jumped 15.02% to Rs 4,619.50 crore during the period under review, as against Rs 4,015.98 crore in the corresponding period last fiscal, the company said. Total expenses in the April-June quarter were at Rs 3,743.15 crore, up 11.07%, as compared to Rs 3,369.81 crore in the corresponding period a year ago.
Nestle India’s domestic sales were up 14.6% to Rs 4,420.77 crore, as against Rs 3,857.56 crore in the June quarter of 2022. “Domestic sales growth is broad-based and grew by 14.6 per cent, on the back of prudent pricing and supported by mix and volume with targeted brand support,” said Nestl’ India Chairman and Managing Director Suresh Narayanan. Its key brands continued to perform well, led by KITKAT, NESCAF’ and MAGGI among others, it added.